Monday, March 14, 2011

Univision Announces Departure of Joe Uva, President and CEO

NEW YORK--(BUSINESS WIRE)--Univision Communications Inc., the premier media company serving Hispanic America, announced today that Joe Uva, President and Chief Executive Officer, has informed the Board of Directors that he has chosen not to renew his employment agreement in order to be able to seek other opportunities.

Haim Saban, Executive Chairman of Univision said, “On behalf of the Univision Board of Directors, we would like to commend Joe for his tremendous contributions over the past four years. Univision is a better company today due to Joe’s efforts in building a strong leadership team and positioning Univision for long-term success. Univision’s business is strong, and the entire management team remains focused on delivering value to its customers and stakeholders. We wish Joe the best in his future endeavors.”

Mr. Uva said, “My four years as President and CEO of Univision have been extremely exciting and rewarding. I believe our team can be proud of the accomplishments that we achieved during my tenure. Although I will miss working with the many talented professionals at Univision, the team is strong and I have decided the time is right for me to capitalize on other opportunities. I know that Univision will continue its great success as the premier Spanish-language media company in the U.S.”

Univision also announced that it will commence a search process for a new CEO immediately. To ensure a smooth transition, Mr. Saban will assume additional responsibilities in his role as Executive Chairman until a new CEO is appointed.

Mr. Uva’s departure will become effective upon the end of the current term of his employment contract, April 2, 2011.

About Univision Communications Inc.Univision Communications Inc. (UCI) is the premier media company serving the U.S. Hispanic community. Its assets include Univision Network, one of the top five networks in the U.S. regardless of language and the most-watched Spanish-language broadcast television network in the U.S. reaching 95% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, reaching 85% of U.S. Hispanic Households; Galavisión, the country’s leading Spanish-language cable network; Univision Studios, which produces and co-produces reality shows, dramatic series and other programming formats for the Company’s platforms; Univision Local Media, which owns and/or operates 62 television stations and 70 radio stations in major U.S. Hispanic markets and Puerto Rico; Univision Interactive Media, which includes Univision.com, the leading Spanish-language Internet destination in the U.S., and Univision Móvil, the industry’s most comprehensive Spanish-language suite of mobile offerings; and TuTv, U.S. outlet for pay television channels of Mexico-based Grupo Televisa. Headquartered in New York City, UCI has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit http://www.univision.net/.